FINANCIAL MANAGEMENT

Top 10 Richest Man In The Philippines

2011-07-13T06:06:00.000-07:00

1.Henry Sy

NET WORTH: $5billion
AGE: 85

Stock price of his SM Investments has almost doubled since December low. Group, with interests in malls, retail, property, posted 14% increase in net income in first half of 2009. Daughter Teresita Sy-Coson runs its Banco de Oro Unibank, country’s largest bank by assets, which signed deal in May to acquire GE Capital’s Philippines banking arm in exchange for strategic investment from the U.S. company; deal expected to close this month. Sy, who got start selling shoes, shares fortune with wife and children.

2.Lucio Tan

NET WORTH: $2.1 billion

AGE: 76

His Philippine National Bank received regulatory approval to buy 38% of China’s Allied Commercial Bank in August. Former electrical engineer’s other holdings include Fortune Tobacco, Asia Brewery, Philippine Airlines and Hong Kong properties. Government case against Tan for allegedly holding assets for the late Ferdinand Marcos has dragged on for 22 years. Some of his fortune still sequestered as part of the long-running investigation.

3.John Gokongwei

NET WORTH: $1.5 Billion

AGE: 83

Shares of his conglomerate JG Summit, which he founded, —and has interests in airlines, telecoms, power, banking and real estate—are up more than 300% since last December’s low. Also owns Robinsons retail department store operations, with stores in 7 countries. Brother James Go chairs the group and son Lance is president.

4.Jaime Zobel de Ayala

NET WORTH: $1.4 billion
AGE: 76

Chairman emeritus of family’s Ayala Corp., one of the country’s largest conglomerates, which celebrated its 175th birthday this year. Eldest son, Jaime II, replaced his dad as chairman more than a decade ago; son Ferdinando is vice-chairman. Family’s shares now in his children’s hands. A photographer, had his first public exhibition in Cebu in March.

5.Andrew Tan

NET WORTH: $1.2 billion

AGE: 58

His holding company, Alliance Global Group, reported jump in first-quarter earnings thanks in part to strong food, beverage businesses (he owns nation’s McDonald’s franchise) and improving real estate sales. Resort World Manila, his $1.35 billion casino joint venture with Malaysia’s Star Cruises, opened last month. Son of a factory worker made his first fortune in brandy, and later in property development through Mega world.

6.Tony Tan Caktiong

NET WORTH: $980million
AGE: 60

3.John Gokongwei

NET WORTH: $1.5 Billion

AGE: 83

4.Jaime Zobel de Ayala

NET WORTH: $1.4 billion
AGE: 76

5.Andrew Tan

NET WORTH: $1.2 billion

AGE: 58

6.Tony Tan Caktiong

NET WORTH: $980million
AGE: 60

Was part of consortium, which also included China’s State Grid and Robert Coyiuto (No. 18), that paid $3.95 billion for National Grid Corp. of the Philippines. Runs port operator International Container Terminal Services, with operations in 10 countries; it posted one-third drop in net income for first half of year due to decline in global trade.

8.Beatrice Campos

NET WORTH: $840 million

Late husband Jose Campos cofounded drug firm Unilab, which accounts for biggest portion of family’s wealth. Also has controlling stake in Singapore-listed Del Monte Pacific, run by son Joselito, who recently invested in San Miguel Corp. with Roberto Ongpin (No. 21) and Inigo Zobel (No. 11).

9.George Ty

NET WORTH: $805million
AGE: 77

His Metrobank, the country’s second-largest lender, saw profits rise in first quarter for first time in a year. Founded bank decades ago. His son Arthur replaced him as chairman 2006. Family, which includes Ty and his children, hold 40% of the bank.

10.Eduardo Cojuangco Jr.

NET WORTH: $760 million

AGE: 75
Chief executive of Southeast Asia’s largest food and beverage conglomerate, San Miguel. Company has been buying up stakes in a power company, oil refiner and bank; has shown interest in buying Dole Food’s Asian assets. In July announced it is negotiating with potential investors to sell part of branded food, alcohol operations. Son Mark is a member of the Philippines’ House of Representatives.

The 3 Principles of Success, according to Cameron Johnson

2009-11-07T09:34:00.001-08:00

Cameron Johnson, a young entrepreneur who started his first business when he was nine with $50 and a home computer. Before he turned twenty-one he had started twelve successful businesses and was offered $10 million in venture capital to grow his hot Web company CertificateSwap.com. He has never taken out a loan or racked up any debt, and every one of his businesses has been highly profitable — so profitable that he made his first million before graduating from high school, and he's put away enough cash so that he could retire today.

Principle #1: Believe in yourself

I was fortunate to learn very early on the key principle that all successful entrepreneurs need to know: First, you have to believe in yourself.

It's actually not that difficult to succeed. It's much more common sense than rocket science. But it starts with finding the courage to put yourself out there.

Believing in yourself is what gives you the confidence and resilience to deal with the rejections and doubts. It drives you to do the best job you can, no matter what you’re doing.

Over time, I've learned to trust my instincts — and that's crucial. You can learn all kinds of things from other people, but ultimately it's your own instincts that you'll need to rely on. The bottom line of your business is you.

Whether you are selling door-to-door, on the phone, through an infomercial, or on a website, ultimately the venue doesn't matter. All of these methods work. First and foremost, you must be able to sell yourself. People don't buy your product or service only because they like it or want it; they also buy it because they like you. If they don't like you, then in many cases it doesn't matter how much they like the product you're selling, they won’t buy it.

If you put yourself out there with confidence, you'll find that most people respect you and respond well to you, whether or not they want what you're selling.

Principle #2: Believe in what you are selling

Believing in yourself leads naturally to a second principle: You have to believe in what you’re selling.

People sometimes think of selling as the art of being pushy, crafty or even manipulative. In fact, it's exactly the opposite. The best salespeople focus on asking questions and listening, not pushing.

I don't believe in high-pressure selling. High pressure is what people use when they're selling something nobody wants, or charging far more than their product is worth. There's a difference between being persuasive and applying pressure. I'm persuasive when I'm selling, but that's because I truly believe in what I'm selling and the value it will create for my customer. My feeling is, I'd be doing my customers a disservice if I let them not buy my product.

The best salespeople are so dedicated to giving customers what they want that they are willing to be as rigorous, patient, and dedicated as it takes to make the sale. They don't give up easily because they believe in what they're doing.

I'm always genuinely fascinated to know why people wouldn't want what I'm selling. If you're not passionate about the product or service you're offering, how could you possibly approach people with genuine confidence? Make sure you're proud of what you sell and the value it creates in people's lives, and you'll instantly become a better entrepreneur.

Principle #3: Treat other people with respect

Believing in yourself also leads to a third success principle: When you respect yourself, treating other people with respect comes naturally. Treating other people with great respect is one of the most powerful secrets of business success. Keep doing that over time with everyone you encounter, and you'll find that people are consistently receptive to you and to your products, services, and ideas. Any fears and doubts you have will start to melt away.

And then you won't hesitate to go ahead and ask for the sale.

TOP TEN RICHEST FILIPINOS

2009-11-07T09:05:00.000-08:00

Top 10 Richest People in the Philippines – 2009

1. Henry Sy

Networth: $3.8 billion
Age: 84
Marital Status: Married, 6 children

2. Lucio Tan

Networth: $1.7 billion
Age: 75
Marital Status: Married, 6 children

3. Jaime Zobel de Ayala

Networth: $1.2 billion
Age: 75
Marital Status: Married, 7 children

4. Andrew Tan

Networth: $850 million
Age: 57
Marital Status: Married, 4 children

His holding company, Alliance Global Group, reported jump in first-quarter earnings thanks in part to strong food, beverage businesses (he owns the Philippines’ McDonald’s franchise) and improving real estate sales. Resort World Manila, his $1.35 billion casino joint venture with Malaysia’s Star Cruises, opened last month. Son of a factory worker made his first fortune in brandy, and later in property development through Megaworld

5. John Gokongwei

Networth: $720 million
Age: 82
Marital Status: Married, 6 children

Shares of his conglomerate JG Summit — which has interests in airlines, telecoms, power, banking and real estate — are up more than 300% since last December’s low. Also owns Robinsons retail department store operations, with stores in 7 countries. Brother James Go chairs the group and son Lance is president.

6. Tony Tan Caktiong

Networth: $710 million
Age: 59
Marital Status: Married, 3 children

His fast-food company Jollibee Foods is expanding: it already has 1,800 locations, 9 brands in 11 countries, including popular burger joint Jollibee; plans to open another 200 this year in such countries as China, Vietnam and the U.S. Completed purchase of a congee restaurant chain in China last October. Got his start 34 years ago when he opened 2 ice cream parlors.

7. Eduardo Cojuangco Jr.

Networth: $660 million
Age: 74
Marital Status: Married, 4 children

Chief executive of Southeast Asia’s largest food and beverage conglomerate, San Miguel. Company has been buying up stakes in a power company, oil refiner and bank; has shown interest in buying Dole Food’s Asian assets. In July announced it is negotiating with potential investors to sell part of branded food, alcohol operations. Son Mark is a member of the Philippines’ House of Representatives.

8. Enrique Razon

Networth: $620 million
Age: 49
Marital Status: Married, 2 children

9. Manuel Villar

Networth: $530 million
Age: 59
Marital Status: Married, 3 children

Philippines Senate president, known as Manny, is a candidate in the 2010 presidential race. He is also the largest shareholder in property firms Vista Land & Lifescapes and Polar Property Holdings. Both sons are on board of Vista Land, whose stock hit 52-week high in August. Shrimp vendor’s son grew up in slum.

10. George Ty

Networth: $515 million
Age: 76
Marital Status: Married, 5 children

thanks for pinoymoneytalk for this info

Top Philippine Mutual Funds

2009-11-07T08:50:00.000-08:00

1rst quarter (january - march)

It’s that time of the year again when we look at the past quarter’s performance of mutual fund companies in the Philippines.

In 2008, we saw how most mutual funds wiped out gains they earned in 2007. During the first quarter of 2009, have the funds recovered or are we seeing further declines in value?

The good news is that during the first three months of the year, most mutual funds have started to recover. Majority of the funds are now in positive territory.

However, do note that although the rate of return is a good measure of performance, other things such as consistency of return and exposure to risks must also be assessed. The past performance of a fund is also not and cannot be a guarantee of future returns.

Philippine mutual fund report from January to March 2009 below.

YEAR-TO-DATE PERFORMANCE OF MUTUAL FUNDS IN THE PHILIPPINES
As of the 1st Quarter of 2009 (January to March 2009)

EQUITY FUNDS (primarily invested in Peso equity securities)

Philequity Fund – 7.99%
Philequity PSE Index Fund – 7.40%
First Metro Save and Learn Equity Fund – 6.60%
Philippine Stock Index Fund – 6.06%
Philam Strategic Growth Fund – 5.73%
United Fund – 4.67%
Sun Life Prosperity Phil. Equity Fund – 4.55%
ATR KimEng Equity Opportunity Fund – 4.36%
DWS Deutsche Philippine Equity Fund – 2.92%

BALANCED FUNDS (primarily invested in Peso debt and equity securities)

ALFM Growth Fund – 5.63%
First Metro Save and Learn Balanced Fund Inc. – 5.22%
Philam Fund, Inc. - 4.80%
GSIS Mutual Fund – 4.79%
MFCP Kabuhayan Fund – 3.82%
Optima Balanced Fund – 3.68%
Sun Life Prosperity Balanced Fund – 2.43%
First Galleon Family Fund – 0.28%

FOREIGN CURRENCY-DENOMINATED BALANCED FUNDS

Sun Life Prosperity Dollar Advantage Fund – 5.70%

BOND FUNDS (primarily invested in Peso debt securities)

Prudentialife Fixed Income Fund – 2.61%
Cocolife Fixed Income Fund – 2.57%
Sun Life Prosperity GS Fund – 2.06%
Sun Life Prosperity Bond Fund – 1.60%
Philam Bond Fund – 1.45%
ALFM Peso Bond Fund – 1.32%
First Metro Save and Learn Fixed Income Fund – 0.76%
Philequity Peso Bond Fund – 0.47%
DWS Deutsche Philippine Fixed Income Fund - 0.38%
Ekklesia Mutual Fund – No data

FOREIGN CURRENCY-DENOMINATED BOND FUNDS

MAA Privilege Euro Fixed Income Fund – 8.84%
Grepalife Dollar Bond Fund – 7.82%
Sun Life Prosperity Dollar Abundance Fund – 7.18%
Philam Dollar Bond Fund – 6.48%
Philequity Dollar Income Fund – 4.78%
MAA Privilege Dollar Fixed Income Fund – 2.28%
Grepalife Fixed Income Fund Corp. – 2.07%
ALFM Euro Bond Fund – 1.20%
ALFM Dollar Bond Fund – 1.03%
AIG Global Bond Fund Phils. – (4.39%)

MONEY MARKET FUNDS (primarily invested in short-term Peso securities)

Sun Life Prosperity Money Market Fund – 0.54%
ATR KimEng Money Market Fund – 0.52%
Philam Managed Income Fund – 0.35%

* Figures in (xxx) denote a loss. All data taken from the website of the Investment Company Association of the Philippines (www.icap.com.ph).

Are we headed towards recovery or is the bottom about to happen yet? We’ll find out in the coming months.

source: www.pinoymonetalk.com

WORKING YOUR WAY TO FINANCIAL ABUNDANCE

2009-05-15T15:49:00.000-07:00

Are you willing to change your money habit and choose to work for financial abundance? According to Bo Sanchez, aspiring for financial abundance should go hand in hand with aspiring for loving and blessing others. How can you do that? Your heart bleeds to see out- of- school children staying in the streets whole day selling newspaper, candles or flowers and some are begging for money. They are suppose to be in school. How can you be of help to their future? You should build your financial assets but how when you only rely from paycheck to paycheck? How are you going to start leaving this situation? Here are the six steps to financial freedom that will give you the opportunity to help many.

1. Change Your Internal Money Programs
If you want to make any improvements in your life, change your behavior. If you want to make giant leaps in your life, change your beliefs. Take for example if you believe that you are poor and think that you'll grow old poor then it might have cause your inability to improve. The mental conditioning you nurtured has been your model and if you do not like to change you'll probably end up living in that situation all throughout your life.

Change what you believe in and change will happen in your life. Believe that you can earn more more than what you are earning right now.

2. Get out of Bad Debt
Bad debt is cause from borrowing money to buy something which doesn't put money in one's pocket. Take for example using credit card to buy an appliance and only pay the minimum amount each month is a bad debt.
How do you get out from bad debt?

Create a strategy and dealine - for example make a goal to pay all your debts within 2 years time. Plan on ways to achieve such goal.
Face your creditors - keep in touch with the creditors. Show to them that you will take responsibility. Negotiate and appeal for a restructuring of your debt. Be persistent and do not be afraid to deal with bank creditors
Pay high-interest loans first
Work for money instead of borrowing money

3. Apply the "Save First, Spend Later" Principle

4. Get Protection
Invest in insurance. It's your protection if something happens to you and you don't have passive income. Be self-insured. You have to work so that you can do this until you reach a point when you don't need insurance anymore.

5. Create Emergency and Retirement Fund

6. Create Multiple Income Streams that Give Passive Income
Economic recession we are facing right now should not make us complacent of just relying solely on our employment income. Start selling, or creating a small business; invest in mutual funds, money markets and other financial instruments. However, study first about these before getting into. Get mentor, read and attend seminars to learn more about how to increase financial assets.

Source: Bo Sanchez, Kerygma Magazine May 2009

TIPS TOWARDS SUCCESS FROM TOP TEN ENTREPRENUERS IN THE PHILIPPINES

2009-05-15T08:09:00.000-07:00

I was browsing the net to search for successful entrepreneurs and I happened to read the posted school paper of students from Sibonga National High School. It was about the information and ideas they got from the 2-day forum on Go Negosyo (Business) Caravan at Cebu International Convention Center (CICC). It 's very inspiring to know that younger generations are enthusiastic at learning entrepreneurial skills. I am already foreseeing future business men who can provide millions of jobs for fellow Filipinos. Wow! thats one of my dream to become an employer someday rather than stay as an employee for the rest of my life.

The top ten key people whom students got the best tips for success in business were the following: Julie Gandoncio of Julie’s Bakeshop,Jack Gaisano of Metro Gaisano,Bobby Aboitiz of Aboitiz Ventures Inc., Bernie Liu of Penshoppe,Jay Aldeguer of Island Souvenirs,Michael Lhullier of MLhullier,Agusto Go of Universityof Cebu,Vivienne Tan of Entrepreneur School of Asia,LRay Villafuerte of LGD,John Gokongwei Jr. of JG Summit Holdings and Mr.Ng of Ngkai.

Although I was not able to attend the forum, the ideas that I got from the students were really valuable. Very unfortunate for me that I was not around to get the best entrepreneurial education I need but nevertheless thanks to Bronwyn of http://www.scribd.com for sharing the words of wisdom their group learned from the top ten successful entrepreneurs in the Philippines.

Start reading now and read again tomorrow.

The key to success

• Dream Big.
• Take control of your own destiny.
• Be an opportunity seeker.
• Be interested in what you do.
• Entrepreneurial mind-sets make small business big and global.
• Entrepreneurship is about the balance between the heart for people, the mind of business and the spirit of creativity and innovation.
• Success is internally defined by the master entrepreneur. It does not have to be seen nor acclaimed by others. What is important to real entrepreneurs is meeting their personal goals. Not how the outside world judges them. It’s about being the best one can be… not better than the other.
• True entrepreneur’s passion makes the impossible possible.

THINGS TO REMEMBER:

• Before starting things like an entrepreneurial activity, we should learn the basics.
• After you learn the basics, go with your own.
• Nothing is impossible once you persevere.
• If there is opportunity, go for it!
• Pursue your aspirations.
• Determine what you want to be.
• Success comes with 99% perspiration and 1% inspiration.

WHEN YOU’RE IN BUSINESS...

• Work hard
• Pay what you can
• Environment restoration
• Expand your resources
• Put God at the center of your life
• Don’t look for things which are already in you

THINGS TO REMEMBER

• Persistence- nothing not even failure could stop you
• Passion- you must really like what you are doing
• Guts- success is not for the timid
• Ambition- setting hard standards for yourself
• Ingenuity- the ability to translate your ambition into reality

THE TRUE BELIEVER IS NOT AFRAID TO FACE CHALLENGES

2009-05-13T06:42:00.000-07:00

Words of Wisdom from a very successful businessman, Xuan Nguyen
Taken from his book Moment of Truth

Ways to become a true believer of success in business

1. Know Your Belief
You can't do business without knowing where your heart and mind are. You certainly can't share to others what you don't have. You can't sell to your people what you haven't totally sold out to. You can't teach others what you don't practice.

2. Show your belief
Your belief is a transparent thing. Don't keep it inside a closed door. Declare it publicly. Tell the whole world about your business. Sell your dream to your family. Show compassion about your mission. Declare your goals to your team.

3. Act on What you Believe
Do it with enthusiasm. Lead by example. Be the most excited, the most disciplined, and the most relentless. Go out in the field and make things happen. Don't just talk. It's your time.

THINK RICH PINOY

2009-05-12T07:27:00.000-07:00

Do you wonder why some people are rich and most are poor? This topic has been talked about by teachers, philosophers, businessman and economist over the years. Why some who have nothing in the past became financially independent? What were there techniques, life rules and principles that others can imitate to become financially secure as well?

Below are Linda Overstreet's Explanation

1. Accumulation Leads to More Accumulation
The rich get richer and the poor get poorer. People who acquire money tend to accumulate more and more. People who don't accumulate money seem to lose even that little bit of money which they have

Why do this happen? The great success principle, the single idea that explains human destiny is simple. It says that, "you become what you think about, most of the time".

2. Control Your Thoughts
Your entire world is created by the things you choose to think about and how you choose to think about them. Wealthy, successful people fill their minds with thoughts, words, pictures and images of wealth, affluence, success, productivity, solutions to problems in the marketplace, most of the time. These thoughts trigger the reticular activating cortex, the part of the brain that makes you more alert and sensitive to things that you have decided are important to you.

3. Activate Your Reticular Cortex
For example, if you decide to invest in a mutual fund, you will start to see news and information about mutual funds everywhere. Mentions in newspapers and magazines will jump out at you. These notices have always been there but now you have sensitized your brain to pick them up and draw them to your attention with far greater frequency and vividness. This is the function and power of your reticular cortex

4. Avoid Poverty Thinking
What do poor people think most of the time? Usually poor people fill their minds with thoughts of scarcity, lack, poverty, being unable to afford things. They are always thinking and talking about how little money they have, how much things cost and how they wish things could be better financially.

5. Think Like Wealthy People Think
Wealthy people from an early age think about how much they have, how much they want and all the different things they can do to acquire and earn the money and things they desire.

6. Find Out How Rich People Think
Here's a rule for you. If you want to become successful, find out what failures do and don't do it. If you want to be wealthy, find out what poor people think about and avoid thinking in those ways. Instead, find out how wealthy people think. Find out what they read. Find out how they spend their time. Study their lives, read their stories and autobiographies and listen to their words when they are interviewed and on tape. The more you find out what financially successful people think and talk about most of the time and do the same things the more rapidly you will enjoy the same rewards that they do.

7. Action Exercises
Here are two things you can do to make this happen

First, make a decision today that from now on you will think and talk only about financial success that you desire. At the same time, you will refuse to talk about or dwell upon your financial problems.

Second, instead of saying, "I can't afford it," instead ask yourself, " How can I afford it? When you think of something that you want or need that you don't have the money for at the time, the only question you ask is? How can you get it? What can you do to achieve it? What are your options? How can you get from where you are to where you want to go? This type of attitude will change your live

SO MANAGE YOURSELF WELL!!! GOOD LUCK TO ALL OF US

NEW YEAR'S MESSAGE

2009-01-06T18:09:00.000-08:00

,

Dear Friends,
As we welcome new year 2009, may our hearts be hopeful for good things to happen this year, may we increase our faith that great miracles will surprise us and may we acknowledge the Most High who can make the difference. Believe that God can change the world. Believe that great things will happen this year. If you are right now in pain, anguish and in deep financial crisis then don't worry. Remember God is greater than our problems. God will carry all our burdens. Smile and stop worrying for God loves you.

7 TOP THINGS I WANT TO HAPPEN THIS YEAR

2009-01-04T18:05:00.000-08:00

1. Pay all debts
2. Save more money
3. Consistently tithe
4. Increase financial investments and start a business
5. Live a healthy lifestyle
6. Grow spiritually
7. Spend more time with family

Sell on eBay

2008-03-29T19:34:00.001-07:00

While it's true that selling products on eBay can be a quick, low-cost way to launch an online business, following the herd by selling the "hot" product of the moment isn't a great idea. To the contrary-chances are, you'll be stomped in the ground by the herd and left lying in the dust with your unsold inventory in hand.
We talked about starting a profitable eBay business in December 2003, and the advice I dispensed then still applies today. The most successful eBay sellers are those who understand that success on eBay relies on many of the same factors as success in a brick-and-mortar business. Smart sellers:
Research the marketplace and the competition to determine the salability and profitability of the product.
Test the market with one or two units before committing to a product line and tying up their cash reserves in inventory that may never sell.
Adjust their product offerings until they find a product or product line that sells consistently.
Know that long-term eBay success doesn't come from "one off" sales. The key to real eBay success is to find a product that sells well and sell that product over and over again.
I asked Timothy Mina, author of The Online Auction Expert's Bible to Selling on eBay, his thoughts on launching a successful eBay business. "With an eBay business, you set your own hours and set your own goals," Mina says. "You can work as much or as little as you want and whenever you want. Many sellers supplement their income by selling on eBay, and many others have turned it into a full-time business."
Mina cites the following reasons for eBay's growing popularity among entrepreneurs who want to start an online business:
You can start up quickly and you don't need special skills.
There is very little risk and investment required to get started.
The marketplace is huge. There are millions of potential customers waiting to buy what you're selling, 24/7, with the click of a button.
There's less stress and no boss. Yes, there is work involved, but the work can be done at your own pace. You are your own boss and you set your own schedule.
You can follow your passion and do something you love. If you sell something you enjoy selling, online auctions aren't just profitable, but also fun and exciting.
Mina recommends creating your eBay business with niche items, especially if you're going to rely on eBay as your primary source of income. According to Mina, there are many benefits to targeting a specific niche market:
When you find a profitable niche, you'll become a certified guru of the items you sell and ideally be the only one on eBay offering the products.
Your expertise will make it 10 times as easy to spot bargains when you're shopping for products to resell. Bargains might be all around you, but if you don't know anything about what you're selling, you won't know how to spot bargains that are right in front of you.
You'll find different ways to add personal value to your products. These low-cost add-ons or unique twists to your products will drastically increase your sales and profits by making your items unique and desirable.
You'll have little or no competition from other sellers, so you can corner your niche market.
By dealing with the same type of customer over a long period of time, you'll get to intimately understand the mindset of your target customer and what your customer wants. This will help you sell your products better and allow you to market your products in ways others haven't thought of.
You'll be knowledgeable and enthusiastic about what you sell, and you'll be attentive to your customers' desires. This results in satisfied customers, name recognition and a lot of repeat business.
You're going to find something you're passionate about and specialize in it. If you love what you're doing, you have a much greater chance of sticking to it and loving it. It won't even feel like work-it'll be like you're getting paid to play.
So how do you find your niche? Mina recommends doing an inventory of your hobbies and interests to help you identify a niche you would enjoy working in. Answer these questions:
What are you passionate about?
What do you collect?
What do you like to read about?
What do you do in your spare time?
Do you have a favorite pastime?
What was your major in college?
What jobs have you had?
Are there any other fields in which you have a great amount of knowledge?
What clubs do you belong to?
Mina also recommends that you spend time on eBay studying the category listings. This may give you additional ideas for hobbies you can turn into an eBay business.
Once you've defined your hobbies or interests, brainstorm how you can turn them into a business.
How can you turn your expertise into a product?
How can you add value to current products related to your interest?
What products can you sell that may be one-of-a-kind and have little or no competition?
Can you think of novel ideas that people who share your passion would love?
Is there anything related to your hobby that you can create yourself (such as an e-book or a how-to, perhaps)?

By Tim W. Knox
http://www.entrepreneur.com/ebusiness/article73364.html

THE SECRET OF A SUCCESSFUL BUSINESS

2008-03-29T19:34:00.000-07:00

Are you generating the revenues you should? Are you overlooking opportunities? While there is no pat definition of what you "should" be generating, there are factors to consider to make sure you are on the right track. One of my clients, the Marketing Director of a small Internet company on the West Coast, was overlooking a customer base right in her own back yard! The company offers software products that allow website owners to easily add specific features to their websites. The company also offers web design and hosting services. After going through a process, we discovered that there was no cross-selling taking place - customers of the web design services weren't being offered the software products. The company had gone after an entirely different market for the software, overlooking a customer base right in their own back yard. It's easy to miss opportunities that are right under you nose. Here are five areas that, when handled properly, could lead to a boost in your revenues. Think through the answers to the questions (scroll down for the questions). You may have revenues in your back yard, too!
Target the right client/customer
Check your capacity
Fine-tune your product/service mix
Evaluate your focus
Review your pricing strategy Once you've answered the questions under each item, you are better able to identify realistic revenue goals for the unique situation of your business. Target the right client/customer Your great product or service won't sell if you are targeting the wrong person.
Do you have a client/customer profile?
How did you select your target market?
Do they want the services/products you are offering?
Can they afford your services?
How are you reaching your target market? Do they know the range of your services? Check your capacity
What is your capacity?
In other words, how many services can you provide in a week/month if customers were banging at your door?
How many products can you actually deliver/distribute?
Be reasonable about the number of hours you would put in to make this happen.
Is your business scalable?
Do you work alone or do you have employees (how productive are they)?
How are you using your time? Can you outsource small or administrative tasks?
Back to scalability. Example: E-book revenues require no real work after the book is written and posted to the Internet. Workshop revenues are limited by things like room size, your ability to travel, cost to produce, or hours in the day. Fine-tune your product/service mix
What are you not offering that your clients need?
Are there services or products that would compliment your offerings?
Have you limited your services based on what you think others will buy without really knowing?
Do you offer enough variation in your product/service to meet the needs of potential clients? Evaluate your focus
Are you spending the bulk of your time promoting and delivering a service that does not have high profit potential?
What is your sales history (amounts, customers, trends [months, weeks, days])?
What sells well? Why? What does not sell well? Why?
Are you cross-selling? Up-selling? Review your pricing strategy
How have you priced your products and services? What strategy are you using? How does it fit into your overall strategy?
What is the net profit for each product or service (Be careful about assuming that if you didn't outlay cash to provide the service that it's all profit.)
How have you packaged your services? Can you bundle? Use these questions to get started identifying strategies, changes, and new ideas to generate the revenues that you have targeted.

by Dianne E. Dawson, M.A.

HOW TO RAISE YOUR CHILD'S FINANCIAL IQ?

2008-03-27T22:37:00.000-07:00

Ensure Your Child's Financial Success

If you've been telling your children, "Go to college, get good grades and work at a large company until you retire" you may be dooming them to a paycheck to paycheck existence. The road to success will be very different for our children than it was for our parents. Our children cannot rely on life-time employment and retirement checks.

What is the answer? According to Robert Kiyosaki, the best selling author of "Rich Dad Poor Dad," we must stop raising our children to think like employees and must instead teach them to think like business owners and investors. Their ability to understand the importance of creating passive income from investments, real estate, as well as investing for retirement is paramount to their future financial success. Skills that wealthy investors have always had are now essential to our children's long-term financial health.

We caught up with Mr. Kiyosaki, as he was traveling through Australia on a speaking tour, and asked him to share with us, how parents can raise their 's financial IQ and why we absolutely must!

Interview with Robert T. Kiyosaki

Robert Kiyosaki is the author of "Rich Dad Poor Dad," and best seller that focuses on what the rich teach their kids about money that the poor and middle class do not. He is also the creator of one of our favorite board games, "CASHFLOW for Kids." Although Robert's business is real estate and developing small companies, his true love and passion is teaching. He is a highly acclaimed speaker on financial education and economic trends. His life-changing work has inspired audiences from 50 to 55,000 throughout the world.

Editor: Mr. Kiyosaki, often, parents tell their children that the key to a successful future is to "pay attention in school, get good grades, go to college and then get a good job in a large company." That "good job" is supposed to provide them with the American dream--a big house filled with nice furniture and two cars in the driveway. Why do you think, that after following these rules and working hard to achieve the American dream, are millions of Americans living paycheck to paycheck?

Kiyosaki: The rules have changed today but many of us, as parents, keep giving the same advice to our children "Go to school, get good grades so you can get into a good college and get a good job with a good company that offers good benefits." This advice was good during the Industrial Age but is no longer applicable for the Information Age.

Young people graduate from college and get good jobs. They begin to make money, credit cards arrive in mass and the spending begins. They meet other young people, date, fall in love and get married. Life is wonderful because now they have two incomes. As a successful couple they decide to buy a house and two cars, and have children. A pay raise comes in and they decide to buy a bigger house, because someone told them they can get a tax break from the interest. They realize they need to start saving for their children's college education so they work harder to make even more money.

This happy couple is now trapped in the Rat Race for the rest of their working days. They work for the owners of their company, for the government paying taxes, and for the bank paying off a mortgage, car "study hard, get good grades so they can find a good job." The process repeats itself creating another hard-working generation.

The only way to get out of the "Rat Race" is through financial education. You must learn about money, accounting and investing.

Editor: What do the rich teach their children about money that is not taught in our schools?

Kiyosaki: In my book "Rich Dad Poor Dad," I tell the story of growing up with two fathers. My real father was a highly educated man who died poor. My best friend's father never finished the eighth grade but became one of the richest men in Hawaii. Both men were very influential in shaping my education and attitude about money. My poor dad would say, "I can't afford it," while my rich would say, "How can I afford it?" I chose to follow my rich dad's advice about money.

In "Rich Dad Poor Dad" I share the six basic lessons about money that my rich dad taught me. These lessons are not taught in school:

1. The rich don't work for money. "The poor and middle class work for money. The rich have money work for them,"he would say to me. The rich buy or create assets that work for them so they don't have to.

2. Why teach financial literacy? You need to understand the difference between an asset and a liability. An asset puts money in your pocket and a liability takes money from your pocket. The rich understand the difference and buy assets, not liabilities.

3. Mind your own business. Many people confuse their profession with their business. To become financially secure people need to mind their own business. Your business revolves around your asset column, as opposed to your income column. The rich focus on their asset columns while the poor and middle class focus on their income columns.

4. The history of taxes and the power of corporations. The Tax Code of the United States provides many usually look for them and use them because they have learned to "mind their own business." For example an individual can utilize the tax advantages and protection provided by a corporation to get rich much faster than someone who is an employee or a small-business sole proprietor.

5. The rich invent money. Great opportunities are not seen with your eyes. They are seen with your mind. Most people never get wealthy simply because they are not trained financially to recognize opportunities right in front of them. The rich have learned to recognize opportunities as well as how to create them.

6. Work to learn--don't work for money. To become successful you must learn how to manage cash flow, systems and people. Being in the Marines taught me leadership and working in sales for Xerox taught me how to sell and how to accept rejection. All of these skills were important for my success. Look for jobs that can help you develop the skills of managing cash flow, systems and people rather than just pay you well.

Editor: In your book, you tell the story of how a friend of yours turned his teenage son's desire for a car into a great financial education. Will you share this with our readers?

Kiyosaki: A friend of mine had a sixteen-year-old son who desperately wanted a new car. Since all of his friends' parents had bought their sons cars, he expected my friend to buy him one as well. After playing my game CASHFLOW my friend decided to use his son's desire for a car as a learning opportunity. He gave his son $3000 but told him he could not use it directly for the car. He also gave him a subscription to the Wall Street Journal. He told his son that once he earned an additional $6,000 from investments he could use the $6,000 for the car and the $3,000 would go into his college fund. My friend said it was the best $3000 he ever spent. Not only had his son gained a new respect for the power of money, he also learned to spend money wisely instead of letting money burn holes in his pockets.

Editor: This is a creative way to teach teenagers about finance. Can you suggest a way to help younger children develop strong money skills?

Kiyosaki: There are three very important money skills that everyone should possess: how to earn money, how to manage it and how to invest it. Our product, CASHFLOW for KIDS is a three part program for parents and teachers wanting to teach children these important skills. It includes the board game, an audio tape and book for parents titled, "How to Increase Your Child's Financial IQ." The board game teaches children the basics of all three money skills through role-playing. By playing the game, children will learn the vocabulary of money and the basics of financial statements.

Once they understand the concepts of income and expense and asset and liability they can start developing their own financial statements. On the audio tape we discuss having your children invoice you for their various chores in lieu of giving them an allowance, as well as having them keep track of their expenditures. It is this process that they learn the value of their time and the difference between working hard for money and having money work hard for them. If your children learn to develop their own financial statements at an early age, they will be better prepared to succeed financially as adults.

Editor: As we enter the fast-changing and complex 21st century, why now, more than ever, must parents help their children develop financial intelligence?

Kiyosaki: In the Industrial Age the ticket for success was to go to school, get good grades, and find a safe secure job for life. You did not have to worry about your financial education because the company and the government would take care of you once your working days were over. The rules have changed. You can no longer rely on your employer or your government to take care of you.

Today, we are in the Information Age and more than job security we all need financial security. Unfortunately, our school system teaches us little about the subject of money. Our children will be required to learn much more than we ever did, and much more than schools are prepared to teach them. Cash flow management is an essential life skill and a skill that will require more and more sophistication as we move further into the Information Age.

Resources to Help You Raise Your Child's Financial IQ

"Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That The Poor and Middle Class Do Not" by Robert T. Kiyosaki and Sharon. Children start learning about money at a very early age by watching and listening to their parents. But how can we be a good financial role model for our children when we don't have these skills ourselves? "Rich Dad Poor Dad" is written in simple terms, yet it can quickly teach you how to build a strong financial future for yourself and your children.

http://www.homeschool.com/articles/financial/default.asp#2

SAVE FOR YOUR FUTURE

2007-10-10T07:41:00.000-07:00

If your savings time frame is very long, such as for retirement, you may want to structure your monthly savings so that they grow larger later in life when you will (hopefully) have more income coming in. On the other hand, money invested while you are young will have more time to compound. Start when you are in your teens!
Consider setting up an automatic weekly or monthly transfer from your checking account to your savings account. With many banks, this can be accomplished online.
Make sure you don't buy unnecessary things. For example, lets say you buy an exercise machine that's on "sale". You might think its a good deal, but after a few weeks, you will most probably just leave it sitting in the corner.
Stop buying newspapers, movies, books and magazines. Borrow from the public library.
Cook more, eat out less. Use less salt, less sugar and less oil when cooking to stay healthy and avoid health issues and medical bills.
If unexpected expenses cause you to deviate from your budget from time to time, cut unnecessary expenses before you cut money from your savings goals. Other than the bare necessities, your savings goals should be your top priority.
For those who have cars, saving money on gas can contribute to your effort considerably. Consider getting rid of the car altogether if you can. Another option is to avoid maintaining multiple cars. Failing that, drive less and shop around for insurance even before you buy a car. See "How to save Gas".
If unexpected circumstances render you unable to meet your savings goals, reassess them and figure out which ones you can delay or cut out. Get back on your program as soon as you can.
For very important or very large savings goals (such as a down payment on a house or saving for your kids’ college tuition), consider opening up a separate account. You’ll be able to keep better track of that particular goal, and you’ll be less tempted to dip into it.
If you receive unexpected cash, put all or most of it into your savings, but continue to set aside your regularly scheduled amount as well. You’ll simply reach your savings goals sooner.
As you satisfy the payment of a car loan, or your mortgage, you will have extra money. Set aside that money into savings. This way, the money you used to pay to somebody else now goes to you.
Use a piggy bank or jar for your coins. Coins and change may look insignificant but when accumulated over time they can help you save. Some banks now offer free coin counting machines. When you redeem your coins, ask to be paid by check so you won't be tempted to spend your new-found cash.
Don't save money solely for the purpose of spending. Setting some amount aside for emergencies can keep you out of a lot of trouble. Decide on some number of months' worth of salary as a cushion, and make a point to replace this stash anytime you must use it.
Interest on debts, especially high interest rates on credit cards, is a huge, unnecessary expense. If you are in debt, pay off your loans right away to get out from under that debt as fast as you can.
One option to get started saving is to find out what your take-home pay per hour is (net pay divided by hours worked) and save the "change" from each hour. For example, if you worked 120 hours per 15 days and your check is 4,000.00 you would be making 33.00 "take-home" per hour. Save at least 5-10% of that paycheck, and you have saved all the "change" per hour.
If you need to have credit cards but you don't want the temptation of having them available to use day-to-day, there is this method: put the credit card in a Tupperware box with water and store in your freezer. Thaw your card only when you really need to use it. Your card will not be damaged by freezing and forcing yourself to use cash will greatly help your budgeting.
Save pop cans when you get done drinking them and recycle. Some places pay money for cans to recycle.
Reduce your long distance phone bills. There are a lot of options for phone service these days, including internet-based providers. Shop around and see if you could save money.

some warnings

Never loan cash you cannot afford to lose.
Never borrow money that you cannot repay.
Do not go out "window shopping" with any money on you. You will only be tempted to spend money you cannot afford to lose. Shop instead, only to a predetermined shopping list.
When window shopping, learn how to talk yourself out of buying. Nitpick and scrutinize to get past your first impression of a tempting item. In very tempting situations, give it a whole day to think on. Most desires will fade in attraction when you're not under pressure.
Be sure to keep track of automatic deductions from your paycheck and any automatic transfers you set up. Sometimes mistakes happen, and if you’re not paying attention, you might not get all your money.
Don't buy something that would put you in debt or is unnecessary.

Philippine Mutual Funds

2007-09-15T08:50:00.000-07:00

A mutual fund collectively pools money from individual and corporate investors. These funds are managed by a professional fund manager who invests the money in stocks, bonds, money market instruments, and/or other securities. The mutual fund earns in two ways: from the capital gain (increase in value) of the security and dividend or interest income. These proceeds, net of whatever charges and expenses, are passed along to the shareholders. The value of a share of the mutual fund, called the Net Asset Value (NAV), is calculated daily based on the fund's total value divided by the total number of outstanding shares.

There are mainly four types of mutual funds in the Philippines: stock (or equity), bond, balanced, and money market. Stock or equity funds invest in shares of stock of Philippine corporations listed in the Philippine Stock Exchange. Equity funds offer the highest possibility of growth among all mutual fund types, but they also have a corresponding high amount or risk.

Bond funds invest primarily in fixed-income securities such as bonds or treasury notes issued by the Philippine government and commercial papers issued by reputable Philippine companies. Because these bonds are normally guaranteed, the possibility of loss is very low. Investing in bond funds provide capital preservation while maintaining conservative asset growth.

Balanced fund is a mixture of equity and bond funds. The high potential growth of equity investments is tempered by the conservative growth of fixed-income securities. Obviously, the return of a balanced fund is normally somewhere between the return of an equity fund and a bond fund.

Money market funds are similar to bond funds because they also invest in fixed-income securities and the growth of the fund is conservative. The main difference lies, however, in the term of money market fund investments, which is usually short-term such as one year or less.

Choosing which mutual funds to invest in ultimately depends on the investor's growth goal and risk tolerance. If the purpose is capital growth, equity funds are the way to go. Bond funds are chosen, on the other hand, if the investor prefers capital preservation over risky capital growth. For those who want medium risk and medium growth, balanced funds are the best option. Money market funds are for those who wish to earn a conservative amount of return in the short-term.

According to the Investment Company Association of the Philippines, a duly recognized association of investment companies in the country, there are currently a total of 22 mutual funds. Six (6) of these are bond funds, five (5) are equity funds, ten (10) are balanced funds, while one (1) is a money market fund.

FILIPINOS: THERE IS SOMETHING TO BE PROUD OF YOU

2007-09-01T19:15:00.000-07:00

CONFIDENCE in one’s ability to overcome poverty and be the best, and high hopes for betterment despite adversity are for a priest, a policeman and a teacher the first steps in how Filipinos can learn to be proud of their country.
Rev. Fr. Roger Fuentes, Col. Cesar Binag and Dr. Josette Biyo were speakers on “Be proud, speak well of your country.” The theme is the first in a list of 12 things that lawyer and book author Alex Lacson, a former researcher of former Supreme Court chief justice Hilario Davide Jr., suggested that Filipinos do to learn to love themselves, their countrymen and their country.
Fr. Carmelo Diola’s Dilaab Movement started the promotion of Lacson’s views that aimed at encouraging people to follow the examples of ordinary citizens who gained prominence through sincere public service.
Despite the present political turmoil, one can still see enough reasons to say positive things about the country, said Fr. Fuentes, rector of the San Carlos Seminary College.
“Self-confidence and self-knowledge are the keys,” he said.
“In order for us to be proud of who we are, we should have a healthy sense of who we are. We should be able to say ‘I am somebody’ and that we are not afraid or ashamed to be a Filipino,” the priest said.
Dr. Biyo, a high school teacher from Iloilo, said she had to borrow a laptop to make her presentation at a competition held in Kentucky, USA in 2002.“Coming from a poor school taught me to be innovative and creative,” Biyo said.
At the end of the competition, Biyo became the first Asian to win the Intel International Excellence in Teaching Award.
For her feat, a newly discovered planet — planet Biyo — was named after her by the Massachusetts Institute of Technology Lincoln University in Boston. She was also offered teaching posts in the US which she politely declined. She said she’d return to continue teaching at the Philippine Science High School in Iloilo.
“We may be a third world country but we really can compete globally,” she told the participants who were mostly students, teachers, religious nuns and police officers.
“Be world class in passion and commitment to your profession. Give your best. For teachers it starts inside the classroom. If you do your best you can conquer the world,” she said.
Biyo also won the 2004 Friendship Award from the Philippine-American Foundation on September 25 at the National Press Club in Washington, D.C.

Other Fil-Am awardees were Maj. Gen. Antonio Taguba, the highest-ranking Filipino-American in the US military who was lauded for his courage in the investigation of Abu Ghraib prison in Iraq, and Cheryl Diaz Meyer, 2004 Pulitzer Prize winner for Breaking News Photography.Filipinos are not bereft of innovation, she said. “Anywhere can be a classroom and anything can be a blackboard, even sand.”
Col. Binag, the commandant of the Nation Police Academy in Cavite, said the Filipinos’ view of a policeman has been poor that even the word “polis” (police) has become synonymous to corruption and misbehavior.
This can be changed, he said. “Prayers and faith incorporated in the training” would do the trick.
“Kahit malaki ang tiyan i-pray over niyo yan. Liliit din ang tiyan niyan (the big bellies of policemen can be reduced by prayers),” Binag said.
Binag’s group, the Christian Officers Reform the Police Movement, aims to “help build a God-centered, service-centered and family-based Philippines.”
“We ask religious groups, priests and nuns to bless us and pray for us,” he said.

SOURCE: CEBU DAILY NEWS

A BORDELESS WORLD (PATRICIA EVANGELISTA) :PROUDLY PINOY

2007-09-01T18:58:00.000-07:00

(THE PHILIPPINES' Patricia Evangelista, won the International Public Speaking competition conducted by the English Speaking Union [ESU] in London in the year 2004. She was just 19 years old at that time when she beat 59 other student contestants from 37 countries, with her five-minute talk on the theme, "A Borderless World." )

WHEN I was little, I wanted what many Filipino children all over the country wanted. I wanted to be blond, blue-eyed and white.

I thought -- if I just wished hard enough and was good enough, I'd wake up on Christmas morning with snow outside my window and freckles across my nose!

More than four centuries under western domination can do that to you. I have 16 cousins. In a couple of years, there will just be five of us left in the Philippines, the rest will have gone abroad in search of "greener pastures." It's not an anomaly; it's a trend; the Filipino diaspora. Today, about eight million Filipinos are scattered around the world.

There are those who disapprove of Filipinos who choose to leave. I used to. Maybe this is a natural reaction of someone who was left behind, smiling for family pictures that get emptier with each succeeding year. Desertion, I called it. My country is a land that has perpetually fought for the freedom to be itself. Our heroes offered their lives in the struggle against the Spanish, the Japanese, the Americans. To pack up and deny that identity is tantamount to spitting on that sacrifice.

Or is it? I don't think so. Not anymore.

True, there is no denying this phenomenon, aided by the fact that what was once the other side of the world is now a 12-hour plane ride away. But this is a borderless world, where no individual can claim to be purely from where he is now. My mother is of Chinese descent, my father is a quarter Spanish, and I call myself a pure Filipino -- a hybrid of sorts resulting from a combination of cultures.

Each square mile anywhere in the world is made up of people of different ethnicities, with national identities and individual personalities. Because of this, each square mile is already a microcosm of the world. In as much as this blessed spot that is England is the world, so is my neighborhood back home.

Seen this way, the Filipino Diaspora, or any sort of dispersal of populations, is not as ominous as so many claim. It must be understood. I come from a Third World country, one that is still trying mightily to get back on its feet after many years of dictatorship. But we shall make it, given more time. Especially now, when we have thousands of eager young minds who graduate from college every year. They have skills. They need jobs. We cannot absorb them all.

A borderless world presents a bigger opportunity, yet one that is not so much abandonment but an extension of identity. Even as we take, we give back. We are the 40,000 skilled nurses who support the United Kingdom's National Health Service. We are the quarter-of-a-million seafarers manning most of the world's commercial ships. We are your software engineers in Ireland, your construction workers in the Middle East, your doctors and caregivers in North America, and, your musical artists in London's West End.

Nationalism isn't bound by time or place. People from other nations migrate to create new nations, yet still remain essentially who they are. British society is itself an example of a multi-cultural nation, a melting pot of races, religions, arts and cultures. We are, indeed, in a borderless world!

Leaving sometimes isn't a matter of choice. It's coming back that is. The Hobbits of the shire traveled all over Middle-Earth, but they chose to come home, richer in every sense of the word. We call people like these balikbayans or the "returnees" -- those who followed their dream, yet choose to return and share their mature talents and good fortune.

In a few years, I may take advantage of whatever opportunities that come my way. But I will come home. A borderless world doesn't preclude the idea of a home. I'm a Filipino, and I'll always be one. It isn't about geography; it isn't about boundaries. It's about giving back to the country that shaped me.

And that's going to be more important to me than seeing snow outside my window on a bright Christmas morning.

Mabuhay and thank you।

soource: www.inq7.net

DOES SMARTNESS PREDICT WEALTHINESS?

2007-08-26T07:02:00.000-07:00

MY LIFE AS A STUDENT

AS A STUDENT I HAD THE MOST TROUBLE WITH THE FOLLOWING:

1. Those school activities that requires speaking in front of classmates. I am a very shy person, this trait take a lead in my areas of weakness. When i was in grade one, my Filipino teacher criticize the way i deliver my poem because of my voice that lacks loudness and clarity. Worst experience happened when i reach grade three, my Civics and Culture teacher stopped me while i was reporting a current events news because she thought that I wasn't serious. My whole body including my voice was shaking because of so much fear and she thought that I was laughing while am reporting. That was my primary years in school and I did have struggles to improve myself. When i reached high school i saw myself the same until i reached college, im still the same. I had poor grades in my oral communications class. My teacher had to let me used a microphone because she can't clearly hear my advertisement delivery. Classmates knew me as a very shy person and i seem to self-fulfill how people label me. I remain this way because that was the image that people expect of me. I always pray so hard for guidance and help so I could deliver a report successfully and so i could do better with my oral exams. I was totally dependent with Divine Intervention. But somehow at the later years of my college days i showed some improvements, although i still felt tensions while reporting in front of my classmates i managed to speak loudly and clearly. I remember getting a very good comment from my Industrial Psychology teacher for delivering a report successfully.

2. Those activities that forced myself to lead a group. I have this very poor leadership skills. I really had trouble delegating responsibilities. I didn't know how to coordinate and unite a team. And i still wonder up to now why my group mates chose me as their leader. Perhaps like me they hated responsibilities. And for a person who didn't know how to say no, i always get bigger responsibilities in group activities. I often end up doing all the researches and preparing all the reports and visual materials.

3. Those that requires mathematical abilities. Although am quite slow in memorization and reading skills, mathematics was my most limited skill. I am very poor in computation or working with numbers. This was a particular handicap in my entire academic life. Although i got passing grade for this subject, still i never liked learning math. This weakness happened to be one of the reasons why i pursue BS Psychology course for my tertiary education because the curriculum only offers 9 units math subjects. (although math and statistics seemed to be related i learned to like and appreciate statistics more in my Post Graduate years but not pure mathematics)

My school performance had been very inconsistent. I sometimes get high grades and sometimes very low grades. And yet no matter how i work hard to remediate my areas of weakness I'm still dealing with them up to now. I still want to improve my communication skills,leadership skills and most of all my self-confidence level.

I thought before that grades are very important for a person to become financially secure and successful in life. Does smartness predict wealthiness? Here are some facts by Ohio State economics professor Jay Zagorsky

The first one has been a belief by almost all of us:

It seems that the smarter you are, the more you tend to earn. For each IQ point you have above someone else's IQ, you'll earn between $200 and $600 more.

The second one is more surprising, People with high IQ do not end up with more wealth.

We who are smarter than the average bear (I'm including myself and you) would reasonably assume, then, that smarter people would end up wealthier. But that was not suggested by the study. Instead, people with higher IQs and incomes tended to spend more, maxing out credit cards and paying bills late. At the end of the day, those with lower IQs often had a greater net worth.

Zagorsky went on to note that "intelligence really isn't one of the key driving forces to become rich. In fact, people at the middle of the smarts spectrum have the fewest money problems."

As an example to this, is Bo Sanchez' life, a Filipino Catholic preacher who rise up from poverty to financial independence. In one of his talk he said that of his entire school life, most of his grades are at stake of failing, he remember getting an F in English composition, line of 7 grades in Filipino and Mathematics. He was not even accepted in college at Ateneo de Manila because he failed in the entrance examination. He was a concern to his parents but if you look at his life at present, he is an author of best selling books in the entire Philippines and Asia, owner of a publishing company and a great entrepreneur. He started from scratches and gradually rose to achieve financial independence. He did not have high academic performance and high IQ as requirements to reach the top.

The bottom line then
Here's my favorite Zagorsky conclusion: "Intelligence is not a factor for explaining wealth. Those with low intelligence should not believe they are handicapped, and those with high intelligence should not believe they have an advantage."

So the next time you're thinking you are not smart enough to achieve financial security , think again.

FILIPINO MYTHS ABOUT MAKING MONEY

2007-08-19T19:26:00.000-07:00

( from the seminar on Financial Planning that i attended last Saturday, August 18, 2007)

Myth No 1: Financial security lies within having a good paying job with a good company
The right belief is that financial security lies in wise investing.

Myth No 2: My family ( relatives ) will take care of me ( especially after retirement)
The right belief is that only you can take care of yourself. You cannot rely on your
children to take care of you. They have their own concerns and responsibilities also.

Myth No 3: You must have money to make more money
The right belief is that money is an idea and ideas create wealth

Myth No 4: Failure is bad
The right belief is that failure is essential to success

Myth No 5: All debts are bad
The right belief is that there is such thing as good debt

Myth No 6: Money is the roots of all evil
The right belief is that money allows you to become more generous, you can help
many if u have more than enough

Myth No 7: Being rich is a lose lose game
The right belief is that being rich is a win win game

SOME FILIPINO TRAITS THAT ARE DETRIMENTAL TO SUCCESS

1. Mamaya Na/Mañana Habit ( procrastination)
2. Bahala na Habit
3. Close Family Ties
4. Hosppitality

FILIPINOS: WILL THEY GROW RICH?

2007-08-11T05:51:00.000-07:00

It has been said that many Filipinos are very talented, intelligent and skillful. However, why most of them are poor? Do you not wonder why Filipinos are deteriorating financially, morally and socially? I wish to cover moral and social issues here but I wanted first that all of us will reflect on the issue that oftentimes exhaust us, and that is financial problems.

In the perspective of financial deterioration - we Filipinos are not doing our part towards financial independence. We desire to become financially secure and yet our desires remain a desire forever. We wish to own a good business, to finish schooling, and to earn extra income but our actions are not heading towards those goals.

Certain Filipino cultural traits, such as ningas kugon (excessive personalism and inordinate family centeredness) have influence our slow to progress. We often blame our corrupt government but isn't it that change should start within ourselves?

I remember, when I first receive a job I was so excited to work. I wake up early, arrive early at the company where I work, and I open my office one hour before other departments could open there offices. I really work so hard, leave the office late. I always accomplish my work for the day and submit reports earlier than the set deadline. I have complete attendance; I don't even use my leaves (vacation and sick leaves). However, I realize lately that the energy I exerted in the past has gradually go down when it is supposed to increase. Is it true that "ningas kugon" is a Filipino cancer? I even come to the point that I am already distress with my work. I got sick psychologically and physically. My attitude may not be true to others but definitely most of us Filipinos are behaving this way. Oftentimes we are very enthusiastic at the start of doing our job but gradually we decrease our effort at a certain point. This trait is detrimental to our progress. The moment we decrease our effort we also deprive ourselves to learn. In comparison, I knew of a Filipino-American whose attitude is really in contrast to mine. While I started working at the age of 22, the person started working at the age of 17, volunteered working in a government agency in repay of a college degree. The person graduated from college then became a full time government employee, proceed studying for another course. Now the person owns a company while preserving the work in the government.

People from other countries were taught to be independent. They work so hard. They are work oriented. They set deadlines when to accomplish a certain goal. I think it is a matter of self-discipline. Every day is a learning experience. Our everyday effort or work should head us towards success. Thus, do not count your failures but rather your daily accomplishments. If you are living this negative Filipino trait, try to shift and change for the better. Enjoy life, love what you are doing but make sure it is beneficial to your future.

Serve well your family, your company, and others.

“Whoever renders service to many puts himself in line for greatness - great wealth, great return, great satisfaction, great reputation, and great joy. Jim Rohn

BASIC STEPS TO GET OUT FROM DEBT

2007-08-09T08:47:00.000-07:00

Step 1. Cut up all credit cards. Reason: your credit is already shot and you are not looking for additional debt. What difference does your credit rating, or score, matter now. Temporarily stop contributions to your retirement funds. The main goal now, is to get out of debt. I have somewhat mixed feelings on this step. I understand the importance of saving and building your retirement and the possible lost earnings. If you are devoted to getting out of debt, you could still continue contributing to your 401(k) or 403(b) during this time. Do what makes you feel better. Start looking for ways of increasing your money. Get extra jobs, discontinue extra services, trade down cars (if possible).

Step 2. Establish an emergency fund. A good suggestion is $1,000. Get this account established as quickly as you can. Pay minimums on all debt until you get this amount saved. This will not be your entire emergency fund. This fund is designed to cover small emergencies while you are working to get rid of all of your debt. Remember, this is only a starting point. You will come back to this account later.

Step 3. Start your debt snowballing plan. List all of your debts, excluding mortgage, ranging from smallest balance to the largest. Keep this list posted on your refrigerator or somewhere else. Just make sure you are able to see it most of the time. Pay all you can on the smallest debt. Concentrate all of your efforts on this debt and only this debt. Pay minimums on all of the rest. When the first debt is gone, put all of that money and any extra on the next debt. Keep doing this until all debts are gone. Get mad and stay mad until all debts are gone. There is no energy in logic, only emotion. The reason for this approach is purely a mind-game. You can see debt going away quicker. Will it make better sense to start with interest rates, probably, but as I said, I want you to see debt going away and get the feeling of accomplishment. By seeing debt going away quicker, you will be motivated in continuing.

Step 4. At this point, the only debt you have is the mortgage. We will not touch this debt yet. Now go back to your emergency fund. Build this fund up as quickly as you can. All of the money you devoted to paying off your debt can now be added to this emergency fund. A good rule of thumb is to have at least 3-6 months of expenses saved in this account.

Step 5. Fully fund all of your pre-tax retirement options. Max out all you can. You should also take a good look at your insurance needs. Always get level, guaranteed renewable term life insurance. Never get whole life. Your policy should be worth 10 times your annual salary. Why? Your family is accoustomed to living on $50,000 a year. You would want a $500,000 policy. Your family will be going through a hard enough time in losing you. Why also make their financial life suffer as well. Your spouse could invest the $500,000 and at a 10% return, they will still be getting $50,000 a year. With your emergency fund fully funded, look at your auto insurance. Deductibles could be raised. This will save you money.

Step 6. Now is the time to start saving for your kid's college fund. I know you think this should have started a long time ago, but it did not meet your immediate goals back then, when you were in debt. Do not let the guilt of not doing anything for the kids stop you, in fact the guilt should be motivation for you to get to this step even quicker.

Step 7. Now is the time to attack the mortgage. Let's get rid of this as soon as possible and have the biggest mortgage paper burning party your neighbors have ever seen. You may be saying, but why? What would you rather do, send a lot of money to the bank, just to get a little back from the IRS? I do not think that makes good financial sense. Spend a lot to save a little, doesn't make sense to me.

Step 8. Now let's get rich. You have zero debt at this time. What are you going to do with all of the extra money? Invest to your little hearts content. Very soon, you will be wanting to give away lots of your money to charities. You are now a giver instead of a spender. How much buying power do you have now. Just go to a merchant and offer cash for any item, look at how fast the price drops.

Personal finance is not a microwave, it is like a crock-pot. You can't get there quickly. Liken it to climbing a mountain. You take very small, careful steps. .

By following these steps, you will be well on your way to obtaining Financial Peace.

*Ideas for this were taken from Dave Ramsey's "Financial Peace." Lampo Press

http://moneycentral.communities.msn.com/YourMoney/creditproblems.msnw?action=get_message&mview=0&ID_M

Top 10 Traits of Highly Successful People -That You Can Learn!

2007-08-08T07:23:00.002-07:00

By Philip E. Humbert

They work hard! Yes, they play hard, too! They get up early, they rarely complain, they expect performance from others, but they expect extraordinary performance from themselves. Repeated, high-level success starts with a recognition that hard work pays off.

They are incredibly curious and eager to learn. They study, ask questions and read – constantly! An interesting point, however: While most of them did well in school, the difference is that they apply or take advantage of what they learn. Repeated success is not about memorizing facts, it’s about being able to take information and create, build, or apply it in new and important ways. Successful people want to learn everything about everything!

They network. They know lots of people, and they know lots of different kinds of people. They listen to friends, neighbors, co-workers and bartenders. They don’t have to be "the life of the party", in fact many are quiet, even shy, but they value people and they value relationships. Successful people have a rolodex full of people who value their friendship and return their calls.

They work on themselves and never quit! While the "over-night wonders" become arrogant and quickly disappear, really successful people work on their personality, their leadership skills, management skills, and every other detail of life. When a relationship or business deal goes sour, they assume they can learn from it and they expect to do better next time. Successful people don’t tolerate flaws; they fix them!

They are extraordinarily creative. They go around asking, "Why not?" They see new combinations, new possibilities, new opportunities and challenges where others see problems or limitations. They wake up in the middle of the night yelling, "I’ve got it!" They ask for advice, try things out, consult experts and amateurs, always looking for a better, faster, cheaper solution. Successful people create stuff!

They are self-reliant and take responsibility. Incredibly successful people don’t worry about blame, and they don’t waste time complaining. They make decisions and move on. Sometimes they are criticized for taking this to extremes – Jimmy Carter carried his own briefcase and a President "shouldn’t" do that! Extremely successful people take the initiative and accept the responsibilities of success.

They are usually relaxed and keep their perspective. Even in times of stress or turmoil, highly successful people keep their balance, they know the value of timing, humor, and patience. They rarely panic or make decisions on impulse. Unusually successful people breath easily, ask the right questions, and make sound decisions, even in a crisis.

Extremely successful people live in the present moment. They know that "Now" is the only time they can control. They have a "gift" for looking people in the eye, listening to what is being said, enjoying a meal or fine wine, music or playing with a child. They never seem rushed, and they get a lot done! They take full advantage of each day. Successful people don’t waste time, they use it!

They "look over the horizon" to see the future. They observe trends, notice changes, see shifts, and hear the nuances that others miss. A basketball player wearing Nikes is trivial, the neighbor kid wearing them is interesting, your own teenager demanding them is an investment opportunity! Extremely successful people live in the present, with one eye on the future!

Repeatedly successful people respond instantly! When an investment isn’t working out, they sell. When they see an opportunity, they make the call. If an important relationship is cooling down, they take time to renew it. When technology or a new competitor or a change in the economic situation requires an adjustment, they are the first and quickest to respond.

These traits work together in combination, giving repeatedly successful people a huge advantage. Because they are insatiable learners, they can respond wisely to change. Because their personal relationships are strong, they have good advisors, and a reserve of goodwill when things go bad. And finally, none of these traits are genetic! They can be learned! They are free and they are skills you can use. Start now!

Perseverance is the Key to Success

2007-08-03T11:17:00.000-07:00

Perseverance is the key to success. After thousands of efforts to make the electric light bulb, Thomas Edison said, “I haven’t failed, I’ve identified 10,000 ways that it doesn’t work.”

Acquiring a desired job or promotion, or succeeding at business may present difficulties. But this is part of the learning process. Ultimately, people who persevere become successful. They learn from mistakes.

Do you persevere? Or, after meeting rejection or difficulties, do you quit?

Test Your Perseverance Quotient
Rate yourself – on a scale of one to three, one being low and three being high – on each of the following:

1. I believe in myself.

2. I have clear career goals.

3. I address my limitations.

4. I bounce back from disappointment.

5. I have the stamina to persist.

6. My family and friends support me in my pursuit of goals.

7. I can adapt to change.

8. I focus and complete projects.

9. My goals are consistent with my purpose and values.

10. I can take unpopular actions when I believe I’m right.

Add your scores. The higher your score, the more persevering you are.

Tips for Persevering

1. Clarify your goal. Base it on your mission/passion, needs and abilities. Know why you want your goal and how you and others will benefit.

State your goal in the present. Write desired outcomes, what you want to accomplish. Be detailed, specific, positive.

2. Intend to achieve you goal. Outline goal, strategies and time line. Know resources that can help you attain your goal, such as people, associations and the Internet. Break the goal into small steps, working backward form your desired outcome and achievement date.

3. Develop support systems. Meet regularly with positive, encouraging people who support your goals and celebrate your achievements. Select other sources of positive reinforcement such as books or tapes with uplifting themes.

4. Choose productive attitudes and behaviors. Don’t dwell in the past, worry about what might happen or view yourself as a victim.

Maintain optimism. Reinforce the positive in yourself and others. Expect good things. Watch self-talk. Replace negative thoughts or statements with positive ones. Keep a diary of each day’s good experiences.

Focus on what you can do. Acknowledge your accomplishments. Judge your accomplishments against personal standards of self-improvements.

Have the courage of your convictions. Don’t change for others or compare yourself with others.

5. Develop the will to risk. Don’t fear mistakes. Ask: ‘What’s the worst that can happen?’ Decide whether you could live with the worst or take steps to reduce the chance of it happening.

Research your goal to reduce negative outcomes. For example, interview successful people who have achieved similar goals. Learn from their mistakes.

Live in the present. Don’t worry about what might happen. View mistakes as opportunities to grow.

Let go of attachments. The more attached you are to something, the greater the fear of losing it.

6. Maintain a healthy lifestyle. Care for you mind, body, emotions and spirit. Schedule quiet times to think and reassess. Practice stress relievers such as deep breathing, exercise, meditation. Get sufficient sleep, eat healthy. Take time for fun and friends.

7. Practice imagery. Imagine yourself living your goal today. Hold your desired outcome firmly in your mind. See, smell, touch and hear aspects of your goal. Each morning upon rising, review your goal. Repeat the process at night.

8. Persist. Focus on goals daily. With every “no” of defeat you’re closer to a “yes” of success. If you learn from set-backs and stay on course, success will follow. Every day, at regular intervals, ask yourself whether your activities are helping you attain your goal.

Believe you’ll attain your goal. Persevere. When your mind, emotions and activities focus on your goal, you can achieve the extraordinary.

" Don't be afraid to give your best to what seemingly are small jobs. Every time you conquer one it makes you that much stronger. If you do the little jobs well, the big ones will tend to take care of themselves." ~Dale Carnegie

sources:

http://www.quotegarden.com/perseverance.html
http://www.investopedia.com/artic

2007-07-22T09:32:00.001-07:00

I STARTED SAVING WHEN I WAS JUST A KID

I started schooling at the age of four. I studied in a rural area where kids are sent to a public school. Kids usually have a cooked dried ground corn and grilled dried fish for lunch packed in a slightly heated banana leaf. They only have bananas, sweet potatoes, or corn (either boiled or grilled), coconut and tamarind candies or guavas for snacks. It is not a practice of parents in the past to give money to their kids for their daily allowance. And among these kids who experienced those very simple life was myself. I usually received money only during Christmas, when my father deceived us kids in the family to hang a sock in the balcony so that if Santa Claus would pass by we will be blessed with gifts like money and toys. I also received money from my grandmother everytime she has sold a livestock. Lastly I always received money from a generous god parent as a birthday gift. You might think I am receiving big amounts like five, ten or twenty pesos but you are exactly wrong. I usually receive an average of two pesos and the highest was two fifty. Nevertheless every time I have these coins in my hands I get a very big smile. I am so happy; I get the highest amount in coin that is two pesos. I also remember performing an intermission number in a poetry contest of which I was rewarded with five pesos but that happens only once. I had a very low self-esteem and could not stand to perform in front of a lot of people again. That’s how I get to save money in the past. I see no stores nearby to spend my money so I had it placed in a bamboo “piggy bank” and hide it in the ceiling. That was really fun because my siblings do the same.

My grandmother really taught me how to be frugal. She always reminded me to increase my savings by keeping the amount of money given to me. She has taught me negotiating techniques to get a discounted stuff. Since then if I get to a retail store I always used negotiating techniques if I have to so I get a discount. Saving then has been a practice in my entire life however I cannot claim that I am in abundance of money right now. I still live in a rugged house where we get crazy during rainy days, our house roofs is as old as our age maybe. Rain drops get inside our house. I still sleep in an old bed and in a room without a ceiling.

You might question my credibility of creating this site and giving it a title Financial Management. I am nobody and I am nothing. Despite the many advices and readings I have learned about financial security I am still in the process of moving forward to that certain level where I can retire early. I am now 26 years old. I do not have much achievements, I do not have properties attached to myself so I could claim I am rich but I am gradually following the pattern of success. It is not easy to reach the top. Family members sometimes scratch our back; they are usually the cause of your downfall. Sometimes they don’t encourage success nor believe that you can make it happen. They create liabilities that prompt you to take responsibilities. Sometimes friends, colleagues, and relatives are detrimental to your growth. Some friends force you to spend for a dinner at an expensive restaurant, watch movies or even buy unnecessary stuff, some colleagues (specifically married) thought that singles have a lot of money and they abused you by constantly borrowing money from you. And some relatives do the same. These things slowly pull you down. However, you still have a choice wether to allow them to kick you off. By this time you are now aware of the many hindrances that block your way to success. Persevere....... be patient......... remember change does not happen overnight........later on you will realize how far you have become........ so move gradually...........learn alot of things......gain confidence......you will someday salute your ownself. Think like a millionaire does. Think big.

USE THE CREDIT CARD WISELY

2007-07-22T07:40:00.000-07:00

A credit card is a piece of plastic card that can either help the user budget his finances or cause him a chain of troubles. This involves a credit system where the issuer lends the user a certain amount transpired in his account and the user pays his balance at the end of the month or billing period.
This balance is charged of no interest if paid off dutifully at the end of the month. Otherwise, the charge rate rises each month the user fails to meet his obligation.

Advantages of having a credit card

A credit card is beneficial if it is properly used.

This provides the user the privilege to shop anytime he wishes even without cash on hand given that the balance is paid in full and on time.
It is more convenient than carrying cash in your pocket, which is susceptible to being lost, or be in accidents.
It will also help you in establishing a good name in terms of credit.
The credit card system is a convenient way of purchasing and paying for services or goods both in the typical stores and online stores because of its easy access features.
It provides incentives that you can enjoy. These incentives come in reward points and are redeemable.
You do not need to write a check, you can pay later.
You can avail of the discounts right when they are offered, unlike when you have to pay cash, you wait until your compensation arrives.

Disadvantages of having a credit card

Credit cards can be very costly if you do not watch what you spend. A rule that you should follow is if you don't need it don't use it.

You pay a high cost to borrow money which is your finance charges and interest rates
You debt load is increased and so is your debt to income ratio
You decrease the amount that you should be saving in the bank cause you are paying interest and financial charges.
Have less money each month for household expenses
You can easily overspend and create real bad financial difficulties.

If you buy items using you credit cards you will have to pay the lend era finance charge for the use of their money. The finance charge is the total amount you will pay which includes interest rate costs and other cost such as services charges and possible other charges.

But amidst all these, a credit card can be a good asset to your business and personal lifestyle. Those stated above are just warnings to guide you to the wise use of your credit card.

So before deciding on the credit card that you plan to apply, make sure to weigh the importance of the benefits that the company offers. And when you have been issued of the card, be a responsible card holder. Keep in mind that though you are not yet spending your cash, sooner at the end of the month, you will. So be intelligent in purchasing your items. Stick to your budget when you market your goods.

And notably, make sure that you pay your accounts on time to avoid late payment charges.

A responsible and disciplined handling of the credit card is required in order to avoid failure of payment and misuse of your monetary fund. Remember that this should be an asset that you must maximize the use. Don't turn it to a liability that will dump you to a deep crisis.

Sources
Mario Churchill - [online] How to use the credit card wisely?. Retrieved : July 22, 2007 from http://www.articledashboard.com, July 22, 2007

What are the advantages and disadvantages of using a credit card?. Retrieved: July 22, 2007 from http://www.kimberlycredit.com